Question 2945 Deck General
70% to passA vessel has been damaged by fire. The survey shows the cost of repairs will exceed the value of the repaired vessel. This is an example of a(n) _______________.
A
actual loss
B
constructive total loss
C
preferred loss
D
salvage loss
AI Explanation
The correct answer is B) constructive total loss. A constructive total loss occurs when the cost of repairing a damaged vessel exceeds the value of the vessel after repairs. In this scenario, the survey shows the cost of repairs will exceed the value of the repaired vessel, which meets the definition of a constructive total loss. The other options are incorrect: A) Actual loss refers to the complete physical destruction of a vessel, which is not the case here. C) Preferred loss and D) Salvage loss are not relevant to this situation.
Related Questions
Q951:Why is gas-freeing rarely required for LPG cargo tanks?
Q3977:Which is the correct procedure for anchoring a small to medium size vessel in de...
Q455:On a vessel making a voyage more than 48 hours long, regulations require that _...
Q2261:To reduce the amount of catenary you may _______________.
Q767:Camphor oil is classified as a _______________.
Ready to test your knowledge?
Take a Deck General Practice Exam
Official Resources
Pass Your Coast Guard Licensing Exams!
Study offline, track your progress, and simulate real exams with the Coast Guard Exams app